2018 Health Insurance Exchanges and Report Card

INTRODUCTION

Consumerism in health care continues to rapidly evolve, driven by rising costs, improved data and information technology, new plan designs, popular culture, and the growing role of online comparison shopping in our everyday lives. The Affordable Care Act’s (ACA) online health insurance exchanges, now in their fifth year, are intended to offer consumers in the individual market an ability to view and compare plan choices. Yet, how the exchanges present plan information can play a major role in the choices consumers make and, indeed, whether they purchase coverage at all. 

Through February 2018, 14.4 million people were enrolled in the individual market, a decline of 12 percent from 2017.1  10.6 million individuals had enrolled in health plans available through the ACA’s state-based and federally-facilitated exchanges—of which 87 percent received public subsidies2. Since 2014, premiums on the exchanges for the second lowest cost (“benchmark”) Silver Plan have increased, on average, by 88 percent—about 18 percent annually.

Similarly, deductibles have increased by 39% since 2014, comprising about eight times more than the typical person’s savings account.